PANews reported on March 18 that according to Decrypt, Bitcoin mining company Bitfarms announced that it has completed the acquisition of Stronghold Digital Mining. The transaction is valued at US$175 million, including US$125 million in equity value. Bitfarms said the acquisition will help the company optimize operations using newly acquired data centers and provide computing resources to AI companies to promote its development in high-performance computing and AI. The acquisition not only increased Bitfarms' market valuation, but also made it more difficult for it to be acquired by its competitor Riot Blockchain. Riot has been trying to acquire Bitfarms since 2023, and this transaction may make Bitfarms' position in industry consolidation more solid.